Comments by "Hunterchuck" (@Hunterchuck) on "Bhaskar Sunkara: Socialism and Communism | Lex Fridman Podcast #349" video.
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@inebriatedgamer5058 Well if you're talking about economic freedom then the socialist proposition is the most free you can get. Right now with how things are currently done, you don't keep what you earn. To give you some perspective i'll use an example:
Let's say that each pool is being charged $40 for each weekly service. at the end of the month that is $160 for each pool and the standard weekly pool cleaning schedule that companies like to hire workers for is a 50 pool schedule. That's $8,000 a month for 50 pools.
The worker gets paid hourly for $11/hr and it can take anywhere from 15 minutes to 1 hour to clean a pool. The fact that some pools can take only 15-30 minutes to clean is the main reason why the hourly rate is undercutting the worker for potential profits that they are missing out on and the business is taking for themselves.
$11/hr for a 40 hour work week is $1,760/month
$8,000 - $1,760 = $6,240
State sales tax depends on state, we can say that it's 6.25% and the monthly cost of running a pool company comes down to chemical and equipment cost which can vary from $1,000-$2,000
Winter time it's definitely less than $1,000
$6,240 - 6.25% (Sales tax) = $5,850~
$5,850 - $2,000 (Business expenses) = $3,850/month
Payroll tax of 6.36% is shared between employer and employee and comes out of each paycheck the employee earns.
However, we can clearly see here that the business owner just made $3,850 not doing any of the work compared to the worker who did and made only $1,760. It’s fine for a business owner to take a piece of the profits made for providing the work but to the extent of a 60-40, 70-30 or an even more disgusting 80-20 is why people have become unmotivated and burnt out by the current working environment. If workers are getting paid the same whether they work hard or not then obviously people will become inclined to work less and not bother pursuing positions that require more responsibilities. There is hardly any incentive to do so and there is good reason that a big part of that is the static wage of hourly or salary work.
On top of that the working class gets taxed at a higher rate in proportion to the cost of living than the wealthy business owners/shareholders that take a chunk of the workers paycheck. At the end of everything people are left with only crumbs.
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@Mpacitto I'm honestly confused to your perspective. I own a business myself and it's not the end of the world if my business were to become unprofitable and I need to close it down. I just then find a new job same as everyone else. You don't even lose money unless you started a business barrowing more than 30% of the cost to start it, which is really silly and risky. Play with fire, you might get burned. Also, with the closing of my business, perhaps the market becomes open later for a new business to arise. This is fine and healthy for the economy anyways.
Democratically owned businesses are perfectly fine and acceptable. The reason why we don't see many of them is because the markets are super saturated with private companies as it is. To put perspective on this, try opening a burger shop right now, even as a private owner. There's already big brands that have all the high traffic spots so to even start a burger shop, you have to put it in a place that people wont easily see it. I've actually seen a burger shop called Joey's burgers close down a year later because it just didn't get the traffic it needed to keep the lights on.
If the markets are already saturated with private business, and those business owner choose to run it in a greedy manner, then socialism will continue to be a thing. If you support capitalism but are unable to figure out how to fix the glaring issues with it, then you can't complain about certain individuals thinking government should step in.
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